REG - GCP Asset Backed Inc - Initial Capital Distribution Update

GCP Asset Backed Income FundAnnouncement

11/06/2024 07:00

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RNS Number : 8766R  GCP Asset Backed Income Fund Ltd  11 June 2024

GCP Asset Backed Income Fund Limited

("GABI" or the "Company")

LEI: 213800FBBZCQMP73A815

Initial Capital Distribution Update

11 June 2024

The Board announces that in connection with the initial capital distribution
announced on 3 June 2024, the Company has compulsory redeemed as at close of
business on 10 June 2024 (the "Redemption Date") on a pro rate basis
159,609,669 ordinary shares at a price of 89.66875 pence per share, which was
approximately 37.5% of the Company's ordinary shares in issue.

Fractions of ordinary shares produced by the applicable redemption ratio have
not been redeemed and therefore the number of shares redeemed in respect of
each shareholder has been rounded down to the nearest whole number of shares.

Payments of redemption monies are expected to be effected either through CREST
(in the case of ordinary shares held in uncertificated form) or by cheque (in
the case of ordinary shares held in certificated form) by 24 June 2024. Any
certificates currently in circulation will be superseded by a new certificate
which will be distributed to certificated shareholders by 24 June 2024.

Following the redemption, the Company has 266,016,390 ordinary shares in
issue. Therefore, the total number of voting rights is 266,016,390 and may be
used by shareholders as the denominator for determining if they are required
to notify their interest in, or a change to their interest in the Company
under the FCA's Disclosure Guidance and Transparency Rules.

The new ISIN, JE00BMFX6989 (the "New ISIN"), in respect of the remaining
shares which have not been redeemed, has been enabled and is available for
transactions from 8.00 a.m. on 11 June 2024. CREST will automatically
transform any open transactions as at the Redemption Date into the New ISIN.

For further information, please contact:

 GCP Asset Backed Income Fund Limited                                           +44 (0)15 3482 2251

 Alex Ohlsson, Chairman

 Barclays Bank PLC, acting through its Investment Bank - Financial Adviser and  +44 (0)20 7623 2323
 Corporate Broker

                                                                              BarclaysInvestmentCompanies@barclays.com
 Adrian Beidas

 Callum West

 Stuart Muress (Corporate Broking)

 Gravis Capital Management Limited - Investment Manger                          +44 (0)20 3405 8500

 Philip Kent

 Anthony Curl

 Cameron Gardener

 Buchanan/Quill - Media Enquiries                                               +44 (0)20 7466 5000

 Helen Tarbet

 Henry Wilson

 George Beale

Notes to the Editor

About GABI

GCP Asset Backed Income Fund Limited is a closed ended investment company. Its
shares are traded on the Premium Segment of the Main Market of the London
Stock Exchange. Its investment objective is to undertake a managed wind-down
of the Company and realise all existing assets in the Company's portfolio in
an orderly manner.

The Company's portfolio comprises a diversified portfolio of predominantly UK
based asset backed loans which are secured against contracted, predictable
medium to long term cash flows and/or physical assets.

 

 

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